Is RegTech the new FinTech?
How agile regulatory technology is helping firms better understand and manage their risks
Regulation is one of a number of services to receive the ‘Tech’ treatment in recent times. As with its bigger brother FinTech, the definition of RegTech will mean different things to different people in this developing area. While the name is new, the marriage of technology and regulation to address regulatory challenges has existed for some time with varying degrees of success. Increasing levels of regulation and a greater focus on data and reporting has however brought the RegTech offering into greater focus thereby creating more value for the firms that invest in these solutions.
This article is based on research and interviews we undertook with RegTech companies and seeks to explore how firms can benefit from regulatory technology and how they can leverage regulatory focused data to better understand and manage their compliance risks.
We seek to highlight
• RegTech solutions (and underlying technology) which are becoming more prominent in the market
• The benefits of RegTech
• The significance of the experienced financial services professional in the RegTech / FinTech era
• Why Dublin has some work to do to establish itself as a RegTech / FinTech friendly location
• How best to leverage RegTech to plot your Regulatory journey for the future.